Futuris Company Completes Acquisition of Akvarr Inc.
Oct 5, 2021
On Oct 5, 2021
Futuris Company a Human Capital Management ( HCM) company focused on HCM Staffing, Consulting and Tech Services, announced the successful completion of the acquisition of Akvarr Inc., a premier provider of IT consulting, engineering, talent solutions, agile project management and workforce management solutions to Fortune 1000 companies globally. “We are thrilled to welcome the Akvarr team into the Futuris portfolio of operating companies”, said Kalyan Pathuri, President of Futuris. Mr Pathuri continued, “I’m looking forward to working with the team to help expand their footprint and cross-sell their services across our assets to realize incremental revenue and profitability growth.”
Founded in 2007, Akvarr Inc. was established during the height of the stock market and real estate market crash. Against all odds, founders Vijai Anand and Amit Kekre, discovered that there was a way to do business where companies could leverage agile project management to avoid potential financial downfalls. Their rich experience in IT consulting, SAP consulting and technical knowhow enabled them to achieve exponential growth. Akvarr was subsequently recognized in 2011 as the fastest growing firm by the Silicon Valley Journal. The company went on to land GE and DELL in 2012 as their first Fortune 500 clients. Other large customers of Akvarr include Coca-Cola, Infosys, Goldman Sachs, Tesla and Verizon. Currently, Akvarr Inc. boasts over 14 years of experience in IT consulting and providing talent management solutions. The company is headquartered in Fairfax, VA with offices across the United States and India. It has over 100 employees globally that serve mid-market to Fortune 1000 clients. Akvarr offers total workforce management solutions with people, processes and technologies to better serve a client’s needs. The company is a certified MBE and Pursuing Corporate Member of the National Minority Supplier Development Council, recognized as a minority owned business and MWAA-LDBE Certified. Akvarr Solutions Service Offerings are organized across highly sought-after areas within the IT field. These services include application, digital, business consulting and architecture. In the areas of talent solutions (IT, financing, accounting, engineering and professional services), the company incorporates a client driven delivery model to provide staff augmentation, team resourcing, contract to hire and direct placement. “We are delighted to join the Futuris family! With our combined experiences, we strongly believe that we will be leaving a lasting mark on the staffing industry,” says CEO of Akvarr Inc., Vijai Anand. The acquisition was closed on October 1, 2021. Separately, as previously disclosed, the Company was in the process of unwinding Pioneer, a prior acquisition completed in August 2020. On September 29th, 2021, the Company completed the disposition of the business, and it was sold back to its former owners. The Company will adjust its previously reported financial results to reflect Pioneer as discontinued operations.